As we all know, the world has completely changed with the 2020 COVID-19 virus and subsequent shutting down of most of the world’s public events and businesses. The wide-spread economic impact is impossible to fully understand or grasp. Life, as we knew it, has forever changed. Businesses have closed or downsized and laid off millions of employees with no clear idea of when they can re-open, if they will ever return to previously functioning levels or if they economically survive and will even be capable to re-opening.
Parts of the population are devastated at their financial losses with no understanding of what their financial future will look like. The unknown and boredom are engulfing for many. And, on the other end of the spectrum, essential workers are working in challenging conditions and situations with no end in sight.
So, how do you financially function and plan for the future during such unpredictable times?
- BE PATIENT – Regardless of the potential dangers of the virus or the justification of the situation, it is what it is and we are all here. We are all here experiencing confusion, fear and worry. Acceptance of huge, life-changing situations is difficult for most people. As each day passes, time will help us accept and heal and we will come to better terms with the situation.
- PANDEMICS OCCUR – Flus have transpired and spread since the beginning of life on this planet. Viruses, funguses, infectious diseases and countless microbes have and always will inhabit our planet. Society’s response to these situations also has impacts on people’s lives. There is no escaping the world we live in. There is adapting.
- PUT IT IN TO PERSPECTIVE – While the closing of the majority of our economy is devastating, we still have a great deal of our lives intact and there are always things to be grateful for. Your health, family, education, skills, assets and friendships will continue and you can use this time to improve them.
- UNDERSTAND YOUR PLACE – People have certainly been tossed around during this pandemic. Some are economically devastated with loss of job and income. Some are working essential jobs with long hours and increased stress and fatigue. Interestingly, some people are barely affected. Those who were already working from home in cyber or technological fields continue their daily work and routine. Take some time to figure out where you physically, mentally and financially are in this situation. You can organize your belongings, assess your options, contemplate your position and even write down some future plans. Take some time to inventory and evaluate your finances and make some financial goals.
- GET BUSY – It’s easy to lose momentum when life has so suddenly and drastically changed. But now is not the time to be stagnant. Now is a great time of opportunity to learn new skills, repair broken items, clean your home, go through personal items, discard items, you no longer use, improve your personal health and call friends and family.
- FIND NEW OPPORTUNITIES – Even in this time of extreme misfortune there is still hope and opportunity. Several businesses and industries are rapidly growing. Sanitation items, toiletries, food and essential household items are in demand. Items and services to entertain people in their homes are in demand. Internet based services and delivery services are flourishing. At-home services such as customer service and account servicing are thriving. Seek new opportunities and income possibilities for your life and your financial future.
- LIFE WILL CONTINUE – Life will never be the same as it was before this pandemic, but, then again, life does change every day. Everyone has had a life changing situation such as a devastating illness, death of a loved one or a drastic job and income shift. What makes this situation different is the immense economic global impact and the fact that almost every person in the world is being affected. The changes in our society are significant. Physically distancing ourselves from each other, moving to a mostly digital world and the shifting and closing of many businesses changes our lives: changes us. Life, as we know it on this planet, will forever be changed but it will continue.
These are just a few recommendations. This pandemic is global and affecting so many people of different cultures, professions, religious beliefs, social levels, ages, health and incomes. The ability to survive and prosper varies to the full ends of the spectrum with this pandemic. Life is certainly unpredictable and, although we don’t always notice it, it changes significantly every day. This pandemic has created some huge changes and commanded our full attention regarding those changes.
Make the most of every day!
Photo by Tedward Quinn on Unsplash